Consumer Packaged Goods (CPG) and Fast-moving Consumer Goods (FCG) have gained unprecedented dependence in the modern times. CPG and FCG are the goods that are the result of production and are ready for consumption by the user. Unlike the other Consumer Goods (like Automobiles, Jewelry, electrical appliances and the like) which can be stored over a long period, CPG and FCG have a comparatively shorter shelf life and sold more frequently. The CPG and FCG are stored in compartments in the shops, markets and the like to ease the classification of the goods and products before offering the goods for sale. Due to high demand and sale of the CPG and FCG, the stocks may be exhausted easily and it becomes necessary to maintain the stocks and sales inventory of the CPG and FCG.
Typically, inventory management systems used to manage the inventory of an entity such as a business. The existing manual monitoring methods of inventories are not reliable. The goods are segregated and further stored in various compartments of the inventories and shops. When the goods in a particular compartment are exhausted, it is manually noted and then the stocks get refilled. This result in inconvenience to the customers due to unavailability of the stocks. Further, the manual monitoring of the compartment inventory causes delay in ordering the fresh stocks of the goods and in-turn availability of the goods to the customer.
Another method of compartment inventory monitoring is by affixing the stickers having optical codes on the goods. Goods classified as the given codes and the corresponding sticker with optical codes affixed to the goods. Goods are scanned using optical scanners at the time of billing the goods. The goods so scanned reduces the number of such goods from the inventory and shows the number of goods available in stock. However, the availability of each individual goods to be searched manually. Further, the availability of the goods not known unless compartments are empty or the database checked manually.
Further, there is a need for a method to update the shopkeeper about the stock of the goods in real-time. The delay in manually checking the inventory details and the ordering of fresh stock needs to be reduced. The undue delay of time between the exhaustion of the stocks and the ordering of fresh stocks needs to be reduced. Thus, there is a need for a system of reporting when the stocks are about to get exhausted while there is still availability of the goods.
Further limitations and disadvantages of conventional and traditional methods and compositions will become apparent to one of skill in the art, through comparison of described methods and compositions with some aspects of the present disclosure, as set forth in the remainder of the present application and with reference to the drawings.